Britain's Ineos Announces Over 2 Billion Euros Green Hydrogen Investment

Ineos chairman, British billionaire Jim Ratcliffe, said in a statement that "Europe is crying out for more investment in green hydrogen".

British petrochemicals manufacturer Ineos on Monday announced it will invest more than 2 billion euros in zero-carbon green hydrogen production in Europe.

Ineos will invest in emissions-free production using electrolysis -- an electrical current passing through water -- with wind, solar or hydro-electric power providing the electricity.

Ineos chairman, British billionaire Jim Ratcliffe, said in a statement that "Europe is crying out for more investment in green hydrogen".

Monday's announcement "shows our determination to play a leading role in this important new fuel," he added.